Schaeffler AG announced on October 1, 2026, that its Supervisory Board has resolved to extend the contract of Sascha Zaps, CEO Bearings & Industrial Solutions, ahead of schedule and for an additional five years. The decision underscores the company's commitment to continuity and the successful further development of its bearing solutions and industrial products business.
Sascha Zaps has been a member of the Board of Managing Directors since May 1, 2024. Prior to that, he served as Regional CEO Europe and a member of the Executive Board since September 2021. The Executive Board comprises the members of the Board of Managing Directors and the four regional CEOs. Georg F. W. Schaeffler, family shareholder and Chairman of the Supervisory Board, praised Zaps: "In recent years, Sascha Zaps has provided important impetus for the further development of our industrial business. With his comprehensive market and technology expertise, as well as his deep understanding of our customers' needs, he has worked with his leadership team to define measures to steer the division onto a path of sustainable growth in a challenging environment. The Supervisory Board is therefore pleased to continue our successful collaboration with him."
The extension matters because it provides stability at a time when industrial markets face significant headwinds. Schaeffler's industrial division, which supplies bearing solutions and linear guidance systems for sectors ranging from renewable energy to manufacturing, is navigating supply chain disruptions, inflationary pressures, and shifting demand patterns. Zaps' leadership is seen as critical to steering the division toward sustainable growth. His reappointment signals that the Supervisory Board has confidence in his strategic direction, which includes leveraging Schaeffler's expertise in motion technology to capitalize on trends such as electrification, CO2-efficient drives, and renewable energies.
Schaeffler, a family-owned company with around 110,000 employees and more than 250 locations in 55 countries, has been driving innovation in motion technology for 80 years. The industrial business is one of its eight product families, which range from bearing solutions and linear guidance systems to repair and monitoring services. By securing Zaps' leadership for another five years, Schaeffler aims to maintain momentum in a division that is essential to its broader portfolio and its position as one of Germany's most innovative organizations.
The early extension also reflects a proactive approach to succession planning and leadership continuity. In a sector where long-term customer relationships and deep technical knowledge are vital, keeping an experienced leader like Zaps at the helm can help Schaeffler deepen partnerships and adapt to evolving market needs. For photos of the Executive Board members, go to www.schaeffler.com/en/group/executive-board.
As Schaeffler continues to pioneer motion for electric mobility, chassis solutions, and renewable energies, the continuity in its industrial leadership will be crucial. The company's forward-looking statements caution that risks and uncertainties could affect outcomes, but the Supervisory Board's decision indicates confidence in Zaps' ability to deliver on the division's growth strategy. This move is likely to reassure investors, customers, and employees that Schaeffler is focused on long-term resilience and innovation in its industrial business. View the original release on www.newmediawire.com.
